Bonifacio High Street Phase 2

Bonifacio High Street Phase 2

Bonifacio High Street Phase 2

One of Fort Bonifacio’s major leisure mile is soon expanding. Phase 2 of the popular Bonifacio High Street is ongoing and expected to be completed by the end of this year!

Bonifacio High Street is located at Bonifacio Global City. It is a 240-hectare project of the Fort Bonifacio Development Corporation. It has themed zones where you can do whatever you want and celebrate all aspects of modern living – fashion, health & beauty, home, sports, technology, name it, they have it!

They also offer office space for lease which is soon ready for occupancy. Targeted completion is 4th Quarter 2011. According to Michael McCullough, Director of KMC MAG Group, Philippine real estate firm: “ The demand for office space for lease in Bonifacio is still very high. Interesting for many clients will be the smaller office spaces – available cuts between 90 – 250sqm – which that mixed used development offers. Current asking prices are between Php 800 -900.00 / sqm.”

Bonifacio High Street offers a good deal for office leasing in Manila. It has walls ready to paint, floors ready to receive carpet, and an open ceiling. They also have 100% emergency power, air-condition system with cooling towers, fire detection system and automatic sprinkler system. Everything you need, Bonifacio High Street has it – a professional workplace and a luxurious ambiance for relaxing and residential condo living. It gives you new and fresh encounters on living the good life.

Real estate industry rides on boom in BPO sector

Vacancy rates on the decline

from Philippine Daily Inquirer

By Abigail L. Ho

The real estate sector continues to be one of the biggest beneficiaries of the boom in the business process outsourcing sector, as vacancy rates drop and the need to construct more office, and even residential, spaces increases.

In an interview with the Inquirer, David Young, managing director of real estate services provider Colliers International in the Philippines, said the BPO sector’s aim to add another 500,000 to its employee base over the next five years translated to the need to build close to 3 million square meters of office space.

“This industry, on its own, can fill up all office space in Ortigas. Real estate developers have a lot to thank this industry for, as it has spurred not just commercial development but residential development as well. BPO employees are either getting their own or leasing condo units,” he said.

He said the surge in the number of BPO employees, many of whom had to work outside their hometowns, had given rise to the establishment of condominium buildings with studio and one-bedroom units that are well suited to these individuals.

Mall developers have also cashed in on the BPO trend, he said, by constructing buildings with more floors and leasing the top stories to BPO companies.

Developers of office spaces reaped the most benefit from the surge in BPO activities, as opportunities opened for them to move into suburban areas and the province, away from the already crowded Makati and Ortigas business districts, he said.

“Makati and Ortigas are not really suited for BPO operations. Also, the vacancy rate in Makati is down to just 4 percent and in Ortigas to only 6 percent, with no more room to grow. The movement is toward suburban areas like Eastwood and the (University of the Philippines-Ayala Land TechnoHub), as well as to the Fort (in Taguig),” he said.

Rates have also started to pick up. He related that office space in Makati would cost around P750 per square meter for prime buildings such as 6750, RCBC and Ayala Tower One. The rate is P100 per square meter cheaper in Ortigas at P650 for buildings such as Wynsum and Orient Square. In Alabang, Eastwood, and UP, lease rates range from P400 to P500 a square meter.

As vacancies go down and rates go up, Gregory Kittelson, chairman of real estate brokerage firm KMC MAG Group, advised BPO firms, particularly start-ups and small and medium operators, to try the serviced offices approach.

Managing Director and Business Consultant of KMC MAG GROUP

Chairman of KMC MAG GROUP

“Developers are building large offices to be leased to large companies, but some companies are also looking for small spaces, especially when they’re starting out,” he said in a separate interview. “There’s a massive need for serviced offices that can serve as incubation spaces for start-ups or as temporary offices for expanding small and medium BPO firms. These serviced offices can cater to operations with 5-100 seats.”

He said KMC MAG Group last year assisted more than 100 companies in setting up shop here using the serviced offices approach. Around 50-60 percent of these companies were from the BPO sector.

“There are not enough temporary office spaces now. All we have are big offices. This is an opportunity for developers as well,” he said.

KMC MAG GROUP Commercial Real Estate & Property Broker

KMC MAG GROUP Commercial Real Estate & Property Broker

KMC MAG Group is the fastest growing commercial and residential real estate brokerage company in the Philippines.  Founded and managed by two Americans and a Philippine corporate lawyer, KMC provides brokerage services for commercial office space, serviced office, seat rentals, and residential properties.

KMC also operates its own serviced offices, incubation and seat leasing facilities on Ayala Ave in Makati and Fort Bonifacio

to see the page follow this link Philippine Daily Inquirer

Rentals in business districts may slide in H1

The luckluster performance of traditional markets — multinational companies from the financial and information technology sectors — might exacerbate the situation and prompt developers and investors to adopt a more cautious stance.

“As the global economy slips into a recessionary phase, office rental growth in the country will continue to be challenged by uncertain demand for office space [brought about] by the weaker short-term demand from the offshoring and outsourcing industry,” said Claro G. Cordero, research head of Jones Lang LaSalle.

He noted that as large European and American economies, on which offshoring and outsourcing firms depend for their businesses, enter into a deeper recession, the future growth path of the outsourcing industry remains uncertain.

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Seat Rentals for Start-ups in the Philippines

Business process outsourcing is one of the most lucrative and fastest growing industries in the Philippines. It is considered to be a strategic management option for companies to decrease the overhead start-up costs.  A major feature of it is seat leasing which gives start up businesses different options when it comes to business growth and development. Instead of shelling out a huge amount of money for operational purposes, a great option is to go for seat leasing. It doesn’t require a lot of capital to avail this kind of service when starting a business in the Philippines.

Seat leasing services usually gives businesses the lowest rates possible when it comes to operational expenses such as equipment for a minimal amount of employees.  Typically seat leasing includes a desk and chair, high-speed internet connection, power for workstation or laptop and common areas such as lunch room and conference room. There are also optional features such as computer and monitor, keyboard/ mouse and VOIP equipment. Seat leasing is a great option especially when setting up outsourcing if you have no experience in the BPO world.

Michael McCullough of ManilaOfficeSpace says, “most of our clients starting in Metro-Manila are now looking towards seat rentals as their prepared office space option.  We are providing our clients with options of either traditional desks or cubicle style in call center or BPO facilities.  These seat leasing options allow them to get up and running very quickly with little captial investment so they can focus on their core business”.

Makati and Ortigas are the most popular cities in the Philippines for seat rentals, as it is the preferred location for start-up BPOs.  It is a top choice for companies who want to have seat leasing because of the abundance of facilities and educated workforce.  Seat rentals have a lot of its advantages aside from the fact that it needs less overhead and operating costs. It can relieve you from traditional expenses that goes with establishing a company. Overall, the main point of seat leasing service is to help in the development of your start-up company.

 

The average cost for seat rentals is about $250 seat per month. This includes the equipment neccesary for operation process. However, some call centers and BPO offices in Manila may try to charge you the same $250 rates per 8 or 9 hour shift.  It is recommended to ensure that your contract state you have access to the seat for 24/7 regardless of your employees’s shift schedule.